“Gangnam” is an area in South Korea, specifically a small area in Seoul, South Korea, home to about 1% of the population of Seoul and is about the size of Manhattan. It is known for its wealthy, “new money”, inhabitants. 

How wealthy do you have to be to live in Gangnam? The average price of an apartment there costs around 3/4 of a million dollars per year. For reference, the average South Korean household’s annual income is about $40,000.
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